Mexican peso value drops a to historic low

The value of the Mexican peso took a big plunge in the wake of Donald Trump’s victory, hitting right at home in border towns like Calexico and Mexicali.

According to experts the peso fluctuated as the election progressed on Tuesday. The price of the U.S. dollar compared to the peso went from $18.50 to a historic price of $20.77 by Wednesday morning.

Mexicali money exchange office officials say the cause of the drastic price change is the uncertainty of a successful Trump presidency.

Officials say that after Trump gave his first speech as president-elect the value of the dollar did stabilize, falling from $20.77 to $19.99.

The president of money exchange offices in Mexicali, Vianey Bañuelos, says any statements like those of “building a wall” or the free trade treaty made by Trump could bring more uncertainty, causing the peso to potentially go even higher.

“Right now we are depending on the declarations made by Mr. Trump to have the price of dollar stabilize or just jump even higher,” said Bañuelos.

As of today the exchange rate is $19.99 per dollar in money exchange offices in Calexico.